Cottage Grove, Oregon Property Taxes
The median property tax rate in Cottage Grove, OR is 0.78%, lower than both the national median of 0.99% and Oregon’s state median of 0.86%. With a median home value of $311,946, the typical annual property tax bill in Cottage Grove is $2,654, slightly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below market value due to various exemptions like the primary residence exemption. Understanding Cottage Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cottage Grove or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cottage Grove, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,433
Ownwell’s Cottage Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cottage Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cottage Grove to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cottage Grove, Oregon
Property taxes in Cottage Grove, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cottage Grove is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Cottage Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cottage Grove estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Cottage Grove's effective property tax rate to other areas in Lane County and the national median. For comparison, the 97424 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these areas compare with Cottage Grove provides valuable insights into the varying tax landscape across Lane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cottage Grove Tax Rate
0.78%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | 0.47% | 0.58% | 0.78% | 1.02% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Cottage Grove, Oregon
In Cottage Grove, Oregon, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lane County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Cottage Grove, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Cottage Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,654, found in the 97424 zip code.
Average Cottage Grove Assessed Value
$311,946
Average Lane County Assessed Value
$368,888
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | $54,053 | $226,036 | $311,946 | $411,152 | $532,474 |
Source: Ownwell
Property Tax Bills Across Cottage Grove, Oregon
In Cottage Grove, located in Lane County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically lower than the market value and is adjusted annually. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or abatements. Homeowners in Cottage Grove experience a range of property tax bills. The 25th percentile tax bill is $1,644, while the 75th percentile reaches $3,482. At the 90th percentile, tax bills can go up to $4,316. These figures highlight the variability in property taxes within the area. Compared to the national median property tax rate of 0.99%, Cottage Grove's property tax rates can lead to significant differences in annual expenses for homeowners. Understanding how these taxes are calculated and what factors influence them can help homeowners better manage their financial planning and potentially seek available exemptions to reduce their tax burden.
Average Cottage Grove Tax Bill
$2,654
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | $500 | $1,644 | $2,654 | $3,482 | $4,316 |
Source: Ownwell